It seems counterproductive to set aside any money when you are in debt, but it actually gives you a bit of freedom from the struggle of simple surviving each week.
Having an emergency fund serves the purpose up keeping you afloat when the unexpected happens. You cannot predict emergencies, unfortunately, but you can be prepared for them!
TRACK YOUR EXPENSES
It is important to track your monthly income and expenses before setting up an emergency fund. This is because it will give you a good idea of just how big of a fund you need to aim for.
KNOW WHAT YOU WANT AND GO FOR IT!
Saving money can be tricky, but having goals can help you stay on track with your savings.
BE REALISTIC WITH YOUR GOALS
It is extremely important to be realistic with your goals. If you cannot afford to set aside $20 each week, don’t make that your goal.
DIVIDE AND CONQUER
Divide it by however many months you have given yourself to save. That will give you the amount of money you need to set aside each month.